Sky News has reported that former Mastercard Chair Rick Haythornthwaite will join Railsr.
In Brief:
Haythornthwaite will be the first Chair of Railsr, which rebranded from Railsbank last year.
He has previously chaired Mastercard, Centrica and Network Rail.
Railsr offers embedded finance “experiences” so that non-financial services companies can offer banking services, cards and wallets.
What does this mean?
Haythornthwaite called Railsr “a major innovator and visionary for the future of the financial services industry”. The appointment is, according to Sky, expected to fuel speculation about a public listing. So far, the company has raised more than $100mn.
